Gap Insurance Toyota protect etc...

[gallen73]

Hello,

I'm mulling over the figures for a new Yarris Cross Excel.

I'm happy with the figures but wanted to know if all the additional extras they throw at you are worth it?

Total Loss Protection (Gap Insurance) - £419 for 3 years (£140 / year)

Toyota Smart Cover (minor damage insurance) £449

Toyota Protect - Showroom finish - £399

Tyre & Alloy insurance - £399

 

They add up to quite a bit. Is it recommended or can you get it cheaper from 3rdf party?

[FROSTYBALLS]

You can certainly get GAP cheaper, and, depending what third party provider, some offer longer policies. 

Look at ala.co.uk, totallossgap.co.uk, money saving expert, etc.

Also try adrianflux.co.uk as they do a form of GAP (mention you're a member of Toyota Owners Club for a discount).

 

[Cowgirl]

I would look at the small print, when I got my new car the tyre insurance didn’t cover you if you commuted to work

[gallen73]

Thank you 

37 minutes ago, FROSTYBALLS said:

You can certainly get GAP cheaper, and, depending what third party provider, some offer longer policies. 

Look at ala.co.uk, totallossgap.co.uk, money saving expert, etc.

Also try adrianflux.co.uk as they do a form of GAP (mention you're a member of Toyota Owners Club for a discount).

 

Excellent. Thank you

[Leo63]

Hi have used ala gap insurance for many years and they are alot cheaper than the dealerships at guess you pay about the £200 for gap insurance. Plus if do a quote online use a promo code ALA22 to get a extra 10% off

[Roy124]

58 minutes ago, Leo63 said:

Hi have used ala gap insurance for many years and they are alot cheaper than the dealerships at guess you pay about the £200 for gap insurance. Plus if do a quote online use a promo code ALA22 to get a extra 10% off

Ditto but try MSE25 for 25% discount 

[MikeSh]

7 hours ago, gallen73 said:

Tyre & Alloy insurance - £399

I took something like that on a Mini a few years back. Total PITA. Had to be done at their body shop which took a couple of days and was miles away. It was actually cheaper and easier to just get a local mobile outfit to sort it.

The Smart Cover is likely similar and the Protect is just a bit of polish you can get cheaper locally ... and even then is probably not worth the bother.

It's all just upselling, like a bigger burger meal you don't really want or need. Say no to everything and have a good Google as to whether you actually want any of it anyway, even at lower prices.

In a year's time you probably won't care about a lot of the minor dings anyway 🙂

[IT Troll]

Gap insurance is a personal choice depending on your finance arrangements and personal circumstances. It is worth noting that most regular car insurance policies will replace new with new during the first year.

The other items are upsells by the dealer. They are not offered when you order direct. I personally think they are overpriced.

[TonyHSD]

Did anyone actually ever used a gap insurance to make a claim after the first year? Did they cover unlimited mileage? Will they pay exactly the difference between your car current value and brand new replacement of same specs? 
Thanks 

[FROSTYBALLS]

17 minutes ago, TonyHSD said:

Did anyone actually ever used a gap insurance to make a claim after the first year? Did they cover unlimited mileage? Will they pay exactly the difference between your car current value and brand new replacement of same specs? 
Thanks 

Depends what type of GAP insurance you have - vehicle replacement, back to invoice, lease gap, finance gap, etc.

I know of one previous member a while ago, who had their Rav4 stolen and the GAP insurer settled quickly and for the amount insured.

One thing to bear in mind is that when insurers write off a car, they won't pay full retail value, as the retail value includes the dealer's potential profit margin, so one would get somewhere between trade value and retail value. In which case there is usually a cash/finance shortfall between the insurer's settlement and what one would pay a dealer.

[TonyHSD]

5 minutes ago, FROSTYBALLS said:

Depends what type of GAP insurance you have - vehicle replacement, back to invoice, lease gap, finance gap, etc.

I know of one previous member a while ago, who had their Rav4 stolen and the GAP insurer settled quickly and for the amount insured.

One thing to bear in mind is that when insurers write off a car, they won't pay full retail value, as the retail value includes the dealer's potential profit margin, so one would get somewhere between trade value and retail value. In which case there is usually a cash/finance shortfall between the insurer's settlement and what one would pay a dealer.

Thank you. 👍

[Spiral82]

I'd say you can definitely do better doing your own shopping around for these items rather than accepting the dealer's offerings.

Also ask whether things like special paint protection (Supaguard etc) are worth it - quite often either a valeter can do you something similar far cheaper if you'd like something above and beyond waxing/polishing with some good quality materials.

GAP insurance can definitely be bought cheaper elsewhere as others have said.

[ISL]

When buying a new car back in 2018, I had a total loss 18 months later.  I had replacement GAP which meant I received an extra £6500 in addition to what I paid for the car originally.  This was due to original discounts and the list price increasing over 18 months. 

The pay out meant I could easily buy another new car and still have some money in my back pocket.  At the time I chose to use my own GAP insurance company rather than using the insurance supplied by the dealer, which was about half the cost.  Since then I have used the same GAP insurance supplier on another car and will again when my new Toyota Yaris arrives in the coming months.

[gallen73]

Cheers. I ordered my new Yaris Cross today with no additional upselling. I'll source the other items myself

[Cyker]

3 hours ago, ISL said:

When buying a new car back in 2018, I had a total loss 18 months later.  I had replacement GAP which meant I received an extra £6500 in addition to what I paid for the car originally.  This was due to original discounts and the list price increasing over 18 months. 

The pay out meant I could easily buy another new car and still have some money in my back pocket.  At the time I chose to use my own GAP insurance company rather than using the insurance supplied by the dealer, which was about half the cost.  Since then I have used the same GAP insurance supplier on another car and will again when my new Toyota Yaris arrives in the coming months.

That reminds me of a friend - He'd just passed his test and bought a car, drove it home under the 3-day insurance and almost immediately crashed it getting back on to the motorway (This is why it boggles my mind the DVLA didn't include motorway experience as part of learning to drive!!).

The funny thing was, as he'd done a good job with the haggling, the market value was more than he paid for it so he actually got more money back than he paid!  

 

As for the dealer packages, my Mk4 had the Supagard applied for free (It turns out my dealer can offer this as *they didn't bother actually applying it*  - Fortunately the Supagard company have vastly better customer service levels than the dealer and sent a guy out to evaluate, clean the car and re-apply it, gratis!  Would definitely consider using them again just because of that experience!)

The 'salesman' also signed me up to all the insurance packages despite me telling him I only wanted the GAP insurance, and then told me it was too late for him to do anything about it but I could just contact them myself to cancel and get a full refund .

I kept the GAP, and also the paint fix one (A good choice in hindsight as my idiot friend scratched the passenger door with his stupid key chain 3 months in! Company did a stunning repair and re-applied the sealant on the affected panel too - You'd never know it'd been scratched!), but I immediately cancelled the tyre and rim protection because, as many of you know, the first thing I did was swap the 17" alloys to 15" which immediately invalidated the wheel cover, as that only covers the wheels that come from the factory (Hence why I didn't want it in the first place!)

 

[ISL]

20 hours ago, Leo63 said:

Hi have used ala gap insurance for many years and they are alot cheaper than the dealerships at guess you pay about the £200 for gap insurance. Plus if do a quote online use a promo code ALA22 to get a extra 10% off

This is a great deal Chris, and thanks for sharing the promo code.  I may use this company for my next car because it offers 4 years cover for replacement GAP opposed to my current insurer who has now reduced this from 4 years to 3 years maximum cover.

For those reading this thread I would highly recommend taking out GAP insurance.  When I bought my last new car in 2018 and suffering an unfortunate total loss 18 months later, my GAP insurance paid out an additional £10,000 on top of my car insurance pay-out.

[ManTimes]

21 hours ago, gallen73 said:

Hello,

I'm mulling over the figures for a new Yarris Cross Excel.

I'm happy with the figures but wanted to know if all the additional extras they throw at you are worth it?

Total Loss Protection (Gap Insurance) - £419 for 3 years (£140 / year)

Toyota Smart Cover (minor damage insurance) £449

Toyota Protect - Showroom finish - £399

Tyre & Alloy insurance - £399

 

They add up to quite a bit. Is it recommended or can you get it cheaper from 3rdf party?

Hello,

Whether you want these products is a personal decision, however, the ones I’ve historically purchased (gap / cosmetic and alloy insurance) I’ve always purchased from third parties online and have been much cheaper than what the dealership offer.

Most recently I used Total Loss Gap (a simple Google search will find them) for all of the above. I’ve made wheel and cosmetic claims through them and never had any problems.

[Roy124]

Tyre and Alloy insurance £399.

How much would a spare alloy and tyre cost?  Use it as a spare and save the cost of a space saver too

[Cyker]

I guesstimate a single new alloy alone would be over £500, then the tyre would be £70-250 depending on the rim size!

 

Second hand would be a lot cheaper tho'...

[DAN@ADRIAN FLUX]

Hi.

Just to let you know that we offer a 12 month product called Total Loss Protection. Whilst it's not exactly the same as your traditional GAP insurance we feel for some customers it can make a cost effective alternative.

Please feel free to take a look if you wish.

https://www.adrianflux.co.uk/extras/total-loss/

Regards,

Dan. 

[Derek.w]

I have used GAP insurance and doing 10000 miles a year, but have never clamed in its 3 years of cover.

Now my milage is extreamely low so I do-not bother.

I am covering at the moment 4000 miles or less a year.

[IT Troll]

This thread prompted me to look again at the options. Thanks OP.

As a result, I just purchased GAP insurance with ALA. It was £258 for 4 years with the MSE code. This is their Vehicle Replacement policy which protects you from price increases. My model already costs £2K more than I paid.

Bear in mind that this type of policy has to be taken out within 90 days of delivery. Mileage limit is 80K.

[anchorman]

I had a car stolen and ALA and Toyota Insurance (IND) paid up without any quibbles.  It was in the days when cars were ex stock so up and running a week later.  ALA also offer the add ons above.  They very readily write cars off due to the complexity these days.  If more than half of the airbags are deployed it’s usually cheaper to write them off.